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Euro Mixed Based on Trading Sentiment

Euro Mixed Based on Trading Sentiment

DailyFX Research,
Euro Mixed Based on Trading Sentiment

Why and how do we use IG Client Sentiment in trading? See our guide.

EURUSD: Retail trader data shows 37.9% of traders are net-long with the ratio of traders short to long at 1.64 to 1. In fact, traders have remained net-short since Apr 18 when EURUSD traded near 1.06042; price has moved 2.5% higher since then. The number of traders net-long is 11.7% lower than yesterday and 30.6% higher from last week, while the number of traders net-short is 4.5% higher than yesterday and 6.3% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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